@ltrd_ You glossed over the most important part: ADLs. ADLs are an abomination, essentially the market telling you that you are facing an unknown counterparty in a form of OTC deal and that the credit risk is all for you. Sly people have been abusing this system on a large scale,

@ltrd_ Amazing analysis! Only disagree with the conclusion. If market’s always exposing weskest points then why doesn’t this happen more often. Because it requires more than mechanics. The weakest point by definition is always the outlier event, but that seldomly materialises.

@ltrd_ Great article! May I ask, are you collecting/normalizing the tick data yourself or are there good providers you would suggest? Would love to try doing similar analysis, but not sure where to gather data.

@ltrd_ this is great, few notes "A large gap between Hyperliquid and other markets - likely due to short-term differences between USDT and USDC ...." > I think this is probably more due to the infrastructure being slower on HL and cancel priority allowing sophisticated traders to step

@ltrd_ wisdom condensed 👇 > It reflects how impatient the market has become. Everyone wants exponential results in a linear world.

@ltrd_ Great insights

@ltrd_ retweeted before even reading thanks

@ltrd_ agreed

@ltrd_ really amazing man you're awesome

@ltrd_ Nahh can't even wait

@ltrd_ thanks sir!

@ltrd_ Thank you for the breakdown

@ltrd_ Great write up thanks for sharing

@ltrd_ Thanks! This is a fantastic write-up

@ltrd_ nice article https://x.com/borkiss727/statu...

major narrative violation: hyperliquid ADL actually INCREASED PnL for the vast majority of shorts last week many ppl are sour that ADL closed shorts right before prices nuked. but the data reveals that most ADL hit near the price bottom, locking in near-optimal profits

He deposited 89M USDC to Binance over the past 3 hours, and BTC open interest on Binance increased by roughly the same amount he closed on Hyperliquid. With the price moving sideways, there’s a very high chance he re-opened the same short position on Binance.

what an incredible failure of PR comms *smaller not particularly well-known figure claims something bad about binance *entire multi-hundred-billion-dollar exchange comes out swinging *TAGS the user in question and threatens legal action publicly sheesh! are you really that on

I can't believe a bunch of Chinese people that went to jail for money laundering are extorting projects to get listed on their bucket shop exchange. Unbelievable Hyperliquid